STOCKHOLM, March 22, 2018 /PRNewswire/ -- Autoliv, Inc.
(NYSE: ALV and SSE: ALIVsdb), the worldwide leader in automotive
safety systems, announces leaders for Veoneer, Inc. and Autoliv,
Inc. ahead of the planned spin-off of Autoliv's Electronics
business, expected to be completed in the third quarter
2018.
Jan Carlson will be the Chief
Executive Officer of Veoneer following completion of the spin-off.
Mr. Carlson will assume this role within the Veoneer business
segment as of April 1, 2018 while
continuing to serve in his role of Chairman, President and CEO of
Autoliv until the spin-off.
After completion of the spin-off, Mikael
Bratt will assume the role of Chief Executive Officer of
Autoliv, which will contain Autoliv's Passive Safety business
segment. Mr. Bratt will remain as President of the Passive Safety
business segment of Autoliv until the spin-off.
"I am proud over what the Autoliv team has achieved in the
journey to create two great companies out of one and I am very
excited about taking on the challenge to lead Veoneer in a
fast-growing part of the automotive industry, after eleven years as
CEO of Autoliv. In Mikael Bratt Autoliv's passive safety business
gets a strong leader with thirty years of relevant industry
experience", said Jan Carlson,
Chairman, President and CEO, Autoliv.
Mats Backman will, after
completion of the spin-off, continue in his role as Chief Financial
Officer of Autoliv. As previously announced, Mathias Hermansson will become Chief Financial
Officer of Veoneer as of April 1,
2018.
In addition, Johan Löfvenholm, will become Chief Operating
Officer of Veoneer following the completion of the spin-off. Mr.
Löfvenholm currently serves as President of the Electronics
business segment of Autoliv.
At a later date, Autoliv plans to announce the members that will
serve on the boards of directors for Autoliv and Veoneer after
completion of the spin-off.
Inquiries:
Thomas Jönsson
Group Vice President, Corporate Communications
Tel +46(0)8-5872-0627
This information is information that Autoliv, Inc. is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the contact
person set out above, at 08:30 CET on
March 22, 2018.
About Autoliv
Autoliv, Inc. is the worldwide leader in automotive safety
systems, and through its subsidiaries develops and manufactures
automotive safety systems for all major automotive manufacturers in
the world. Together with its joint ventures, Autoliv has more than
72,000 employees in 27 countries. In addition, the Company has 23
technical centers in nine countries around the world, with 19 test
tracks, more than any other automotive safety supplier. Sales in
2017 amounted to about US $10.4
billion. The Company's shares are listed on the New York
Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on
Nasdaq Stockholm (ALIV sdb). For more information about Autoliv,
please visit our company website
at www.autoliv.com.
Safe Harbor Statement This release contains statements
that are not historical facts but rather forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements include those that address
activities, events or developments that Autoliv, Inc. or its
management believes or anticipates may occur in the future,
including those related to the intended spin-off of Autoliv's
Electronics business, the timing of such spin-off and whether the
spin-off is ultimately consummated. All forward-looking statements
are based upon our current expectations, various assumptions and/or
data available from third parties. Our expectations and assumptions
are expressed in good faith and we believe there is a reasonable
basis for them. However, there can be no assurance that such
forward-looking statements will materialize or prove to be correct
as forward-looking statements are inherently subject to known and
unknown risks, uncertainties and other factors which may cause
actual future results, performance or achievements to differ
materially from the future results, performance or achievements
expressed in or implied by such forward-looking statements.
Numerous risks, uncertainties and other factors may cause actual
results to differ materially from those set out in the
forward-looking statements, including general economic conditions
and fluctuations in the global automotive market. For any
forward-looking statements contained in this or any other document,
we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995, and we assume no obligation to update publicly or
revise any forward-looking statements in light of new information
or future events, except as required by law.
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The following files are available for download:
http://mb.cision.com/Main/751/2477708/809283.pdf
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PDF
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http://news.cision.com/autoliv/i/jan-carlson-ceo-veoneer,c2371193
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Jan Carlson CEO
Veoneer
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http://news.cision.com/autoliv/i/mikael-bratt-autoliv,c2371188
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Mikael Bratt
Autoliv
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SOURCE Autoliv